Sending money to Kenya is easy. The number of good options available to you makes it an easy destination for transferred funds. The currency exchange rates have taken somewhat confusing turns in the last year, but apart from that, getting the right deal when you send funds to Kenya is not difficult.
The current exchange rate for the Kenyan Shilling (KES) is 103.8971 KES per American Dollar (USD) as of the time this was written. The KES reached a high of 104.2050 KES per USD during the last 90 days, while the low was 101.8904 KES per USD.
The average exchange rate over the last 90 days was 103.2235 KES per USD. The average volatility of the KES against the USD was 0.19% over the last 90 days. This is a relatively low volatility rate, and the last two years have seen the KES remain fairly stable recently. The only exception would be a major depreciation in value during the final months of 2018. The KES has since rebounded, and you can reasonably expect minor fluctuations going forward, barring unforeseen circumstances
There are several very fast options if you want to transfer money to Kenya. The most generic and affordable option is the fast version of Ria Money Transfers. With Ria Money Transfers, you can expect your funds to reach its Kenyan destination in a matter of minutes.
The downsides to Ria Money Transfer are that the service is not the easiest option to use, and the faster option is not the cheapest. That being said, Ria Money Transfer’s fast option is a great balance between cost and speed. Many of the slower money transfer services cast far more than Ria Money Transfer.
The cheapest way is through XE trade. XE trade has no upfront fees for sending funds to Kenya, and their hidden currency conversion fees are minimal when compared to the competition.
With XE trade, you can expect consistently cheap money transfers to Kenya. The only downside is the waiting time, which should normally be 3-5 business days.
The easiest way to send money is through Payoneer. Payoneer is an all-around great option when it comes to convenience as well. They are also one of the few money transfer services that allow you to send funds to a debit card. From there, the money can be immediately withdrawn from an ATM. The rates they offer are rather competitive as well.
The overall best way to transfer funds to Kenya is through Ria Money Transfer (the FAST service). The fast service of Ria Money Transfer costs more than the cheaper, slower version, but the prices are still competitive. The main benefit that you get with the fast service is a great rate given the fact that it usually takes just minutes for the transfer to be completed.